Indian, an attractive global economic destination

Geneva: Emphasising that the global economic downturn had a `limited impact` on India, President Pratibha Patil today said the Indian economy has consistently recorded high rates of growth and has become an attractive destination for investments.

"India`s growth offers many opportunities for mutually beneficial cooperation. The Indian economy recorded consistently high rates of growth since 2003 and even the global economic downturn had a limited impact," she said.

Addressing a reception here hosted by Indian Ambassador to Switzerland Chitra Narayana, daughter of former President K R Narayanan, Patil said India has become an attractive destination globally for investments, FDI and business.

"Today India is among the most attractive destinations globally, for investments and business and Foreign Direct Investment had increased over the last few years," she said.

"Since the Indian economy opened up in 1991, Indian companies faced international competition rather well, and have expanded their global footprint," said Patil, who is on a state visit to Switzerland.

She, however, said the overriding priority in India today is to ensure that the benefits of the economic growth should reach all sections of society, in particular the poorer sections, so that they too can have a better life.

"We are also aware of the challenges of ensuring that the aspirations of our youth, who constitute more than 50 per cent of our population today, are met; that they have the opportunities to get education and training needed to allow India to garner the demographic dividend," she said.